Independent Wholesale Mortgage Broker  


Discount Pricing  (707) 888-1464

Vashon Mortgage LLC  &  Collen & Associates

Self-Employed – Alternative Income 

There are a number of alternative methods for providing income documentation other than the “Full Doc” method of submitting tax returns and W-2 statements.  A self-employed borrower often deducts as much as they can to reduce their tax liability.  Alternative methods can show their gross income minus a percentage of their business deductions, rather than an itemized list of business deductions.  Depending on the type of business, this percentage can often increase the calculated net income, and thereby increase the eligible loan amount.

  • P&L programs are often the best method for a self employed person to maximize their buying power. 
  • I have a Lender who will accept a P&L statement provided by a Tax Preparer who is not a CPA.
  • Minimum FICO is 660
  • Loan Amount up to $1.5M
  • LTV up to 80%

More Information on P&L Programs

There are 12 mo. and 24 mo. bank statement programs available. 

Minimum FICO is 600

Loan Amount up to $3M

LTV up to 90%

Typically requires 2 years of 1099’s.

Minimum FICO is 660

Loan Amount up to $1.5M

LTV up to 80%

Vashon Mortgage – NMLS #2431410  &  Collen & Associates CA DRE #01452367

(c) 2022 – All rights reserved

Randal Collen    MLO #2386273  &  DRE #01452367

PO Box 452, Vashon WA 98070  (707) 888-1464     Privacy Policy